China reported much stronger-than-expected exports for October as shippers rushed goods to the United States, its biggest trading partner, racing to beat higher tariff rates due to kick in at the start of next year. Import growth also defied forecasts for a slowdown, suggesting Beijing’s growth-boosting measures to support the cooling economy may be slowly starting to make themselves felt.1 comment
The United States and China will hold a delayed top-level security dialogue on Friday, the latest sign of a thaw in relations, as China’s vice president said Beijing was willing to talk with Washington to resolve their bitter trade dispute.
Russia and Argentina have approved a draft agreement on fisheries cooperation. The agreement will make seafood exports from Argentina to Russia significantly easier and boost trade volumes. Russia will also obtain a right to fish in Argentine waters, the agreement stipulates.
Latin American stocks soared on Thursday with Brazil shares touching an all-time high and Argentina's Merval stock index jumping 6,2%, as global risk appetite recovered on strong corporate earnings and signs that the Sino-U.S. trade war could be contained.
United States has refrained from labeling China a currency manipulator in a move which may help defuse escalating tension over trade between the two countries. President Trump has previously accused China of keeping its currency weak to make its exports more competitive.
Chile has called for lithium to be traded on the London Metals Exchange to provide greater “clarity” about its value, mining minister Baldo Prokurica said. At present, lithium producers negotiate contracts with buyers but the terms of the deals are not made public. Critics say this lack of clarity has a chilling effect on potential new investment in the market since the metal’s value cannot be precisely measured.
Wall Street indexes continued their slide in Thursday’s volatile session as investors worried about rising interest rates and braced for a trade war hit to corporate earnings a day ahead of the quarterly reporting season kickoff.
Britain would be welcomed into the Trans-Pacific Partnership trade pact “with open arms” by Japan, the country’s prime minister has said. Shinzo Abe also urged the use of “wisdom” during Brexit talks in order to avoid a no-deal withdrawal from the EU.
The US dollar slipped against the Canadian dollar on Monday as the United States and Canada reached a framework deal to update the North American Free Trade Agreement. The deal reached involves offering more dairy access to U.S. farmers as well as Canada agreeing to a side-letter arrangement effectively capping automobile exports to the United States.
David Mundell MP, Secretary of State for Scotland is currently in Chile where he arrived on Wednesday to reinforce the existing close links between the UK and Chile, including trade, science and innovation, defense and green growth.